Nitzan Alon to step down as Canndoc chief executive

While he will continue to advise the company, the former project director for Iran issues will be replaced by deputy chairman Alon Granot

Nitzan Alon 311 (photo credit: IDF's YouTube screen capture)
Nitzan Alon 311
(photo credit: IDF's YouTube screen capture)
Maj.-Gen. (res.) Nitzan Alon will step down as chief executive of medical cannabis company Canndoc, a wholly owned subsidiary of InterCure, the company announced Saturday night in a statement filed to the Tel Aviv Stock Exchange.
The former IDF project director for Iran issues and head of the IDF Operations Directorate, Alon assumed the position in February and will continue to advise the company. He will be replaced by deputy chairman Alon Granot, a former executive vice president and chief financial officer at Frutarom.
Therapeutic holding company InterCure has been chaired by former prime minister and current Democratic Union candidate Ehud Barak since September 2018. According to the company, Barak is responsible for InterCure’s global growth strategy and the development of international business, working approximately 40 hours and earning $10,000 per month.
Besides the production of medical cannabis, InterCure manufactures and sells personal therapeutic devices, including RESPeRATE, a non-drug hypertension treatment approved by the US Food and Drug Administration (FDA), and InTone, a non-invasive heart failure treatment.
Subject to approval by the Ministry of Health’s Medical Cannabis Unit, InterCure will also appoint Rami Levi as Canndoc’s new chief operating officer.
“The combination of Granot’s international experience together with Mr. Rami Levi’s operational experience will enable the company to continue expanding its manufacturing and marketing capabilities, with the aim of establishing itself as a leading medical cannabis company in Israel and worldwide,” InterCure said in a statement.
In addition to managerial appointments, InterCure announced in its half-year report published on Saturday that it has received permission from the Medical Cannabis Unit to commence nine medical cannabis clinical trials. Eight of the nine tests will be phase II clinical trials.
The trials will examine the clinical effects of Canndoc products on patients suffering from conditions including epilepsy, fibromyalgia, neuropathic pain, side effects of chemotherapy, Parkinson’s disease and post-traumatic stress disorder.